President Trump 's tax records show that China is one of three foreign countries where he maintains a bank account, The New York Times reported Tuesday. "Though the bank account remains open, it has never been used for any other purpose. ", "No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive," he told the newspaper. Although the accounts in the U.K. and Ireland report millions of dollars in revenue due to them both being linked to Trump golf courses in each country, the Chinese account reported just a few thousand dollars. So where does that leave us? China is one of only three foreign nations — the others are Britain and Ireland — where Trump maintains a bank account, according to a Times analysis of the president’s tax records. Watch Trump's history of refusing to release his tax returns, FBI director speaks publicly for first time since Capitol riots, Pence makes surprise visit to Capitol to thank National Guard, Biden: Real pain overwhelming the real economy, Watergate icon compares Trump and Nixon's final days in office, 'Fuming': How Trump is reacting to his second impeachment, 15 hours of chaos that led to Trump's impeachment, Former DHS official: You don't get a mulligan on insurrection, Mudd: Here are my 2 concerns with potential protests. In both the year he won the presidency and his first year in the White House, Trump paid just $750 in federal income taxes, the Times reported. Reports of Trump's secret Chinese bank account spark controversy There's a lot to unpack in the new reporting, but it's probably worth dwelling on Trump's previously undisclosed bank account in China. However, THC China Development, has been the main method of attempts to drive business developments in China. That same year, Trump withdrew $15.1 million from the company’s capital account. Garten did not confirm the Bloomberg estimate but acknowledged that the buyout was a “significant portion” of the company’s revenue unrelated to China. After 20 years, it deserves a farewell toast. Trump Maintains Secret Bank Account In China, Withdrew $15 Million Mysteriously In 2017. DONALD Trump's tax returns have shown the president still maintains a bank account in China, it was revealed on Tuesday. (CNN)President Donald Trump's tax records show he has pursued expansive business projects in China for years and even maintains a Chinese bank account, The New York Times reported Tuesday, disclosures that deal a blow to the President's efforts to paint Democratic nominee Joe Biden as the presidential candidate who is soft on China. China is one of only three foreign nations - the others being Ireland and Britain - where Mr Trump maintains a bank account, according to analysis by the newspaper of the president's tax records. Trump’s company has spent at least $192,000 in investing in five small companies specifically created to pursue business ventures in China, though it is unclear the exact dollar amount that has gone into the organization’s efforts to get involved in business deals in China. The Chinese account, the newspaper said, is controlled by Trump International Hotels Management and it paid $188,561 in taxes in the country from 2013 to 2015. Subscriber Account active since ... was added alongside state-owned Chinese plane maker Commercial Aircraft Corporation of China and the airline Grand China Air. But Trump himself has taken on debt from China. ", While Trump has sought to paint Biden as weak on China throughout the general election, his own financial ties to the country stand in stark contrast with the former vice president, whose. The late-night hosts skewered President Trump for maintaining an undisclosed bank account in China despite … The Chinese account is controlled by Trump International Hotels Management L.L.C., which the tax records show paid $188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015. The account in China is controlled by Trump International Hotels Management LLC, which paid $188,561 in taxes in China while trying to secure licensing deals from 2013 to 2015. Show full articles without "Continue Reading" button for {0} hours. The President's tax records show he has invested at least $192,000 in five companies established to pursue projects in China over multiple years, according to the Times. Potentially one explanation for the spike, listed on public disclosures only as “management fees and other contract payments” was the buyout of its management contract for the hotel in SoHo, renamed the same year as The Dominick. Trump International Hotels Management reported only a few thousand dollars from China. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. President Donald Trump has a bank account in China which until now has been hidden from the public. Trump for years attempted to claim he and President Xi of China (photo, at Mar-a-Lago) were good friends. President Donald Trump has maintained at least three foreign bank accounts — in China, the United Kingdom and Ireland —according to a new report by the New York Times. An account controlled by Trump International Hotels Management LLC … Like us on Facebook to see similar stories. The new details gleaned from Trump's tax records build on a previous. 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